Triver to Expand Embedded Invoice Financing for UK Small Businesses

Triver secured up to 114 million pounds (about $153 million) to expand the embedded invoice financing it offers to small businesses in the United Kingdom.

The company’s financing is part equity, via a 14 million pound Series A round, and part debt facility secured with HSBC Innovation Banking U.K. and Avellinia Capital, according to a Wednesday (Sept. 24) press release.

With its total venture capital investment to date totaling 21 million pounds and its combined debt facility totaling 65 million pounds, potentially rising to 100 million pounds, Triver can now offer 1 billion pounds of funding annually to small businesses in the U.K., the release said.

Triver’s platform integrates with software commonly used by small businesses to run their business, uses artificial intelligence and open banking data to underwrite the risk of small business borrowing instantly and automatically, provides businesses advances on their client invoices at any time of the day, and charges fees that start at 1.8% for a 30-day invoice, the release said.

The company was founded in 2023, has financed more than 17,000 invoices worth 180 million pounds since its launch, and serves 1,500 clients, per the release.

Triver founder and CEO Jerome Le Luel said in the release that the company solves the challenge small businesses face when they must pay suppliers and staff on time, but don’t get paid by clients right away.

“With 55 days of average payment terms, U.K. small businesses are constantly owed 150 [billion pounds] in commercial invoices waiting to be paid,” Le Luel said. “Triver allows these businesses to turn their client invoices into instant cash flow, at any time, to fund working capital needs.”

Clare Mitchell, director, FinTech at HSBC Innovation Banking U.K., said in the release: “We’re delighted to be supporting Triver with this new facility, enabling the company to continue to scale its cash flow finance offering to an ever-growing number of small businesses across the U.K.”

Triver announced in November 2023 that it secured an additional 20 million pounds in debt facility from Avellinia Capital, which enabled it to offer over 200 million pounds of funding annually at that time.

In May 2024, Triver said it deployed several Experian data solutions to accelerate onboarding and approvals, enabling the small businesses using its platform to complete the application and approval process in as little as six minutes.

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